Deferrals and accruals; cash comes first in the former case; goods & services come first in the latter case. Prepaid assets or unearned revenue on the deferral side; liabilities or services payable on the accrual
side. Relevant to adjustments on trial balance due to depreciation of assets being on the deferral side
Buildings and other property (land excluded) should take depreciation into account, in a separate column. The number stays the same in the equipment column over its expected lifetime but gets credited to the depreciation column. At the end of its expected lifetime (if the property can still be used). it stays on assets for the rest of its actual lifetime.1
Two depreciation accounts: Accumulated Depreciation & Depreciation Expense. Debit the expense and credit the accumulated.
Depreciation (and the passage of time with prepaid assets) is a contra asset, i.e., it takes off assets but does not add to liabilities.
Unearned revenues apply in the case of purchase of a service to be provided in the future. Debit cash and credit unearned revenue. Airline tickets are an example of paying now for a service later.
1 Gets recalculated (rate slows) when realized it has more lifetime than initially estimated